Fennec Pharmaceuticals Announces Listing on the Nasdaq Capital Market
September 11 2017 - 7:29AM
Fennec Pharmaceuticals Inc. (TSX:FRX), (OTCQB:FENCF), a specialty
pharmaceutical company focused on the development of Sodium
Thiosulfate (STS) for the prevention of platinum-induced
ototoxicity in pediatric patients, today announced that its shares
of common stock were approved for listing on the Nasdaq Capital
Market ("Nasdaq"). Trading on the Nasdaq under the symbol "FENC" is
expected to commence on September 13, 2017.
“We look forward to the expanded visibility,
improved liquidity, and the potential diversification of our
stockholder base that the trading on the Nasdaq may provide as we
continue to focus on increasing stockholder value," stated Rosty
Raykov, CEO of Fennec. “Our listing on the Nasdaq represents a
significant corporate milestone as we continue our commitment
towards serving an unmet medical need for pediatric patients with
cisplatin chemotherapy pending the SIOPEL 6 results in Q4
2017."
Fennec's common stock, which has been trading on
the OTCB Marketplace (the "OTCQB") since January 2009, will
continue to trade on the OTCQB until the market closes on September
12, 2017.
About Fennec
Pharmaceuticals
Fennec Pharmaceuticals, Inc., is a specialty
pharmaceutical company focused on the development of Sodium
Thiosulfate (STS) for the prevention of platinum-induced
ototoxicity in pediatric patients. STS has received Orphan Drug
Designation in the US in this setting. For more information, please
visit www.fennecpharma.com.
About Sodium Thiosulfate (STS)
Cisplatin and other platinum compounds are
essential chemotherapeutic components for many pediatric
malignancies. Unfortunately, platinum-based therapies cause
ototoxicity in many patients, and are particularly harmful to the
survivors of pediatric cancer.
In the U.S. and Europe there is estimated that
over 7,000 children are diagnosed with local cancers that may
receive platinum based chemotherapy. Localized cancers that receive
platinum agents may have overall survival rates of greater than 80%
further emphasizing the quality of life after treatment. The
incidence of hearing loss in these children depends upon the dose
and duration of chemotherapy, and many of these children require
lifelong hearing aids. There is currently no established preventive
agent for this hearing loss and only expensive, technically
difficult and sub-optimal cochlear (inner ear) implants have been
shown to provide some benefit. Infants and young children at
critical stages of development lack speech language development and
literacy, and older children and adolescents lack social-emotional
development and educational achievement.
STS has been studied by cooperative groups in
two Phase 3 clinical studies of survival and reduction of
ototoxicity, The Clinical Oncology Group Protocol ACCL0431 and
SIOPEL 6. Both studies are closed to recruitment. The COG ACCL0431
protocol enrolled one of five childhood cancers typically treated
with intensive cisplatin therapy for localized and disseminated
disease, including newly diagnosed hepatoblastoma, germ cell tumor,
osteosarcoma, neuroblastoma, and medulloblastoma. SIOPEL 6
enrolled only hepatoblastoma patients with localized tumors.
Forward looking statementsExcept for historical
information described in this press release, all other statements
are forward-looking. Forward-looking statements are subject to
certain risks and uncertainties inherent in the Company’s business
that could cause actual results to vary, including such risks that
regulatory and guideline developments may change, scientific data
may not be sufficient to meet regulatory standards or receipt of
required regulatory clearances or approvals, clinical results may
not be replicated in actual patient settings, protection offered by
the Company’s patents and patent applications may be challenged,
invalidated or circumvented by its competitors, the available
market for the Company’s products will not be as large as expected,
the Company’s products will not be able to penetrate one or more
targeted markets, revenues will not be sufficient to fund further
development and clinical studies, the Company may not meet its
future capital requirements in different countries and
municipalities, the proposed sale to Elion may not be completed and
other risks detailed from time to time in the Company’s filings
with the Securities and Exchange Commission including its Annual
Report on Form 10-K for the year ended December 31, 2016. Fennec
Pharmaceuticals, Inc. disclaims any obligation to update these
forward-looking statements except as required by law.
For a more detailed discussion of related risk
factors, please refer to our public filings available at
www.sec.gov and www.sedar.com.
For further information, please
contact:
Rosty RaykovChief Executive OfficerFennec
Pharmaceuticals Inc.T: (919) 636-5144
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